Industrial production, also referred to as the factory output, gauged by the Index of Industrial Production (IIP), grew by 1.4% in November, compared to the revised figure of 4% in October.
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The 1.4% YoY growth in industrial production in Nov’21, its slowest in 8 months, can be attributed to a waning low base effect. The growth of 1.4% is even lower than the 1.6% growth registered in the pre-pandemic month of November 2019. In the period between Apr-Nov’21, industrial production grew by 17.4%, compared to a contraction (de-growth) of 15.3% in the corresponding period a year ago. Subdued investment weighed on the Index of Industrial Production (IIP), data released by the National Statistical Office showed. The weakening consumption and investment trends will now require the government to carry the burden of bailing the economy out of its sluggish growth by increasing its capital expenditure.
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Jitesh Surjiani
Jitesh Surjiani is passionate about progressive change for India and its citizens. He writes about issues that are roadblocks in improving quality of life and interpersonal interactions as well as areas of public governance that fall short in intent and action.
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